Photo by Christian Wiediger on Unsplash
- Written by Andrea Miliani Former Tech News Expert
In a Rush? Here are the Quick Facts!
- Amazon announced new physical Data Transfer Terminals in New York and Los Angeles for AWS users
- Customers can make a reservation online, bring storage devices to the building on the day booked, and transfer data to the cloud for an hourly rate
- The service is aimed at clients with large databases to train machine learning models, content creators, and more
According to the company’s official announcement , the new locations in New York and Los Angeles will allow customers to bring their own storage devices and pay to transfer data at a fast speed. The company expects to open new locations in the near future.
The company explained that there can be multiple purposes for this service, from uploading large datasets for machine learning model training to transferring large files from content creators for processing.
Users can make a reservation—for a user or a team—through the AWS Management Console and pay for the space at an hourly rate. On the day of the reservation, the building staff will escort visitors to the room where the Data Transfer Terminal is located.
According to TechCrunch , this unusual service is special as it offers upload speeds of up to 400Gbps through a safe “high throughput” connection. The rate for U.S. transfers per port is $300 for a U.S.-based AWS data center and for uploads to the European region from the U.S., the rate is $500.
AWS also recently announced free computing power to researchers, allowing them to access its cloud data centers.
Image by Adeolu Eletu, from Unsplash
Financial Institutions Embrace AI For Treasury Management
- Written by Kiara Fabbri Former Tech News Writer
- Fact-Checked by Justyn Newman Former Lead Cybersecurity Editor
Financial institutions are increasingly turning to AI to boost treasury management, with AI-powered account analysis emerging as a key tool for optimizing cash management and improving liquidity, as detailed in a report by PYMNTS .
In a Rush? Here are the Quick Facts!
- AI-driven account analysis optimizes cash management and improves liquidity for financial institutions.
- FIS predicts AI will revolutionize treasury functions and enhance client relationships.
- AI tools help financial institutions optimize pricing models and offer competitive rates.
As financial operations become more digital, AI is reshaping how institutions manage their treasury functions, allowing for more accurate insights, better client relationships, and enhanced operational efficiency, as reported by PYMNTS.
“The market is evolving, and institutions need tools that can evolve with it,” said to PYMNTS Norman Marraccini, senior vice president of products and services at FIS .
Account analysis, long viewed as a back-office function, is now being elevated by AI technologies. PYMNTS explains that traditionally, account analysis statements—provided by banks—offered detailed reports on banking activities such as transaction volumes, service fees, and compensating balances.
With the integration of AI, these insights are becoming more granular and dynamic, giving treasury teams the ability to not only track cash flow but also predict trends and optimize decision-making, says PYMNTS.
AI tools in account analysis can analyze vast amounts of financial data, enabling institutions to identify their most profitable clients and optimize pricing models.
According to Marraccini, AI-powered platforms will help institutions offer more competitive rates, ensuring they remain attractive to commercial and small business clients, as reported by PYMNTS.
“AI can take the guesswork out of pricing, ensuring that customers are matched with the right accounts and services,” Marraccini explained to PYMNTS.
By automating data analysis, AI allows treasury professionals to focus on strategic decision-making instead of manual data crunching, significantly improving both efficiency and accuracy.
Despite the promise of AI, many financial institutions are still grappling with legacy systems and manual processes. Marraccini warns that continuing to rely on outdated technologies could lead to costly errors in pricing, billing, and account management, which can erode customer satisfaction and revenue.
“When you rely on manual tools or incomplete product catalogs, you open the door to errors in pricing and billing,” he said to PYMNTS.
AI’s potential is particularly significant in identifying profitable opportunities and improving client retention.
With advanced AI-powered analysis, institutions can offer personalized solutions based on a client’s specific cash flow patterns, lending needs, and deposit behaviors, ultimately enhancing loyalty and minimizing client attrition, reports PYMNTS.
Looking ahead, Marraccini is optimistic about the future of AI in treasury management. FIS’s upcoming AI-driven platform, launching in 2025, aims to harness the full potential of artificial intelligence, eliminating inefficiencies and optimizing revenue, says PYMNTS.
By adopting these cutting-edge tools, financial institutions can transform their treasury operations, gaining a competitive edge and maximizing the value of every client relationship.
As digital transformation accelerates, AI is quickly becoming an indispensable component in the evolution of treasury management, helping financial institutions navigate the complexities of modern cash flow management and drive sustainable growth.
